Natural gas prices hovered in a narrow range of modest gains and losses early Monday before creeping upward and ultimately finishing comfortably in positive territory, as traders assessed a bearish tilt in the weather outlook against strong demand prospects for U.S. liquefied natural gas (LNG) exports.

ngl storage chart

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The February Nymex gas futures contract settled at $3.815, up 8.5 cents day/day. March rose 12.1 cents to $3.678.

NGI’s Spot Gas National Avg. climbed 23.5 cents to $4.595.

NatGasWeather said traders initially fixated on “huge” warmer trends in the January outlook that could diminish demand relative to expectations last week. The firm said both the domestic and European...